Fitbit Value Stands at Approximately $4.1 Billion After IPO

The value of wearable tech is increasing, at least for one manufacturer.

The sale of 36 million shares of Fitbit during its initial public offering this week raised the company's value to about $4.1 billion.

Fitbit, which is estimated to have controlled more than 80-percent of the wearable fitness tracker market in the first quarter of 2015, had estimated the price of its stock during the IPO to be approximately $20 per share.  As of the close of the business day on Wednesday, June 17, 2015 it was trading at just over $30 per share.